Home Capital shuffles roles of executives

New position created after two leave company

• Two more Home Capital Group Inc. executives have left the company, with one being replaced and another’s position eliminated.

The Toronto- based alternative lender says Pino Decina, executive vice-president of residential lending, and Chris Whyte, executive vice- president and chief operating officer, have departed from their roles at the organization.

Home Capital says Edward Karthaus, whose was previously with D+ H and Filogix LP, will replace Decina on Oct. 10.

The company does not intend to fill Whyte’s COO position and will instead create a new chief information officer role to focus on improving its technology.

The executive turnover follows the departure last week of Greg Parker, who in July helmed the newly established position of executive vice- president of strategy at Home Capital, before leaving to join rival mortgage lender Street Capital Group Inc.

In August, the company named Canaccord Genuity Group Inc veteran Brad Kotush chief financial officer.

Chief Executive Yousry Bissada, who took charge in August to turn the business around, has been tasked with rebuilding relationships for the mortgage lender after the ouster of Martin Reid as CEO, the beginning of a series of events which led investors to withdraw 95 per cent of deposits from the lender’s highinterest savings accounts.

Home Capital also announced this week that is has eliminated 65 jobs from its workforce as part of a program to cut $ 15 million in annual costs.